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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, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Planning Commission, India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- The University of Queensland
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
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