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.
|
|
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
|
|
|
Showing 6176 to 6180 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Australian Coal Association
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
|
| |
| |
|
