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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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- Minerals Council of Australia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
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