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Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
 Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old history. Yesterday, the Baltic Dry Index, a leading gauge which tracks the cost to hire a dry bulk carrier, hauling commodities such as iron ore and coal, kept its upwards momentum, albeit it showed the first signs of fatigue after almost eight weeks of rallying.
The BDI ended at 4,661 points, up by 18, but the Capesize sector posted its first daily drop in many days, with the relative index (BCI) now at 8,056, down by 187 points. Still average daily time charters for capesizes stand at $ 87,118, close to this year’s highs.
According to Jim Wong, an analyst with Nomura Holdings of Hong Kong, the Baltic index will average 4,000 points in 2010. In a relative report he mentioned that the 4,000 level implies all contracts are profitable. He also added that “we reiterate our bullish view on the dry-bulk shipping sector, as we expect dry demand, mainly from China, will continue to improve, coupled with less-than-expected supply resulting from order-book delays and cancellations.”
Those are the good news thus far, since the market has raced towards the end of year, a rally which helped some owners find their optimism, book some good deals and boost their finances. But, once again, this latest rally of more than 450% from the beginning of 2009 has been fuelled by Chinese iron ore imports and ship congestion in key ports of China, Australia and Brazil. As everyone in the market knows, this factor is quite volatile and as soon as iron ore stocks in China are replenished, the BDI could very well head the opposite direction.
This time more than ever, it’s imperative for owners to scrap their older vessels, as they will compete with their younger ones, as soon as they are delivered. According to Peter Norfolk, director at SSY Consultancy and Research, who was quoted by Bloomberg, at the start of 2009 about 170 Capesize vessels were on order for delivery this year alone. However, net new ship availability amounts to just 35 vessels currently, as a result of scrapings, congestion and the fact that some greenfield shipyards have either not been built or have not delivered on schedule.
About 300 Capesize vessels were on order for 2010, Mr Norfolk said, but there was huge uncertainty over how many would be delivered.
Meanwhile, it is estimated that a total of 600 new building orders have been cancelled by ship owners. Out of them, about 400 ships or 65% are dry bulk carriers, with reportedly 120 of them Capesizes. however, this doesn’t mean much, as most yards continued building the vessels, in hopes of finding other buyers, which in fact has been the case with many Chinese owners, who are backed by local banks and of course the government.
Another interesting factor is that the main volume of cancellations occurred until May. Since then, the rate of cancellations was practically erased, with virtually no other cancellations, apart from a handful of tankers and container ships. Still, China alone seems to be able to support the market, as the country is investing in public works, which alone is a boost for demand of raw materials, while the real estate market is also on the rise.
As long as other economies return to the market, with the exit from the recession slowly becoming a reality (Singapore was another country which declared its economy is now out of the recession), dry bulk owners will have more things to cheer about.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
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