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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
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