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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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Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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