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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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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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Showing 5511 to 5515 news of total 6871 |
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- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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