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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- The University of Queensland
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
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