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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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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
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