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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, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- White Energy Company Limited
- Planning Commission, India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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