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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
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Showing 6201 to 6205 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
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