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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With rates now closing in to $10,000/day for a capesize, it’s just a matter of time before some owners at least begin considering even the option of layoffs, as the market’s downturn is such that it could simulate the conditions prevailing during the financial crisis of the final months of 2008. Of course, global dry bulk trade is far from the state it was back then, demand for goods is solid and the global economy is in a large part recovering, although at a slower than expected pace.
Still, capesize rates have kept on falling, ending yesterday down by 3.86 percent, according to the Baltic Exchange. This meand that the market for capesizes has fallen by more than 25% since Christmas Eve. “Although the Atlantic held up for a while, by the end of the month it had attracted ships from the Pacific, ensuring rates softened in both markets” said shipbroker BRS (Barry Rogliano Salles) in its weekly report. As a whole the BDI fell by 1% yesterday to reach 1,480 points a new low in more than two years. The only bright spot seems to be the Panamax market, which has continued to find support and widening its gap in terms of daily earnings from its larger counterpart, the capesize segment.
According to N. Cotzias Shipping Group, “the negative trend that was there during week 51 of 2010 continued well into 2011 and the overcapacity issue that we had repeatedly warned the markets from late 2009 is here to cause more headaches during 2011. We expect the indexes to further reduce their values at least in the larger size segments and any possible recover will be temporary and short lived. What is worth stating is that as long as the developed world markets don’t get seriously into a post –recession stage, and keep operating at idling speeds then the rest of the world and the shipping markets can’t rely solely on China to keep producing the steam for all the world. The load on China’s back is too heavy and unless there is another China… invented in 2011 we feel that the scales that measures the rise in demand for seaborne goods vs the rise in supply of new dry cargo ships will heavily tip over one side… and we all know which side of the scales is already heavily imbalanced!” said the company in its latest report.
As far as overcapacity goes, Cotzias notes that there is a total of more than 3,500 dry bulk carriers on order pending until 2014 of a total of 250mil tons dwt. “These orders are split chronologically as follows: 1854 ships are due for 2011 making up a total of 128mil dwt, 1106 ships due in 2012 of 87mil dwt and 360 ships of 30mil dwt due for 2013-2014. In total there is a massive orderbook only on the Bulkers section and we should not understate the fact that 2011 faces us with more than 55% of the total orderbook scheduled for delivery and that we should also include in this 114 orders of 4mil dwt that are “carried forward” from 2010. The outlook looks worst for Supramax size segment where the total fleet adds up to 69mil dwt tons and has more than 36mil tons to come in the next 2 years included the ships that are “brought forward” as outstanding orders from 2010 (58% possible increase in the next 2 years). The second worst size segments are the VLOC’s andthe Post Panamax sectors that have nearly as much capacity coming within the next 2 year period as the fleet sums up today (we observe a near 100% increase over the next 2 years). The Handymax size segment is looking much better as the orders here are minimal and have also a very largely over-aged fleet with more than 70% being 20 year + in age and the new building orders not exceeding 4mil tons of extra carrying capacity. The Capesize size segment is also largely on threat as the present fleet amounts to 183 tons presently with more than 69mil tons on order until 2012. This will lead to a 38% increase in the fleet that will be shocked by the addition of 25mil more in the larger Very Large Ore Carriers that will act not as a domino effect but more like the Cliffhangers that when one falls over… the weight and pressure is put on the others still hanging solidly on the cliffs to support the rest” said the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
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