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