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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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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Xindia Steels Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
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