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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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Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
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