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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, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
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