We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
|
|
|
Showing 6276 to 6280 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
|
| |
| |
|
