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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
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