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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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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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