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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
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