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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Aditya Birla Group - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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