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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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Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
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Showing 6216 to 6220 news of total 6871 |
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- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
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