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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, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
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