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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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Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
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- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
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- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
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- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
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- Economic Council, Georgia
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- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
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- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
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- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
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- Metalloyd Limited - United Kingdom
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- Indonesian Coal Mining Association
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- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
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- Gujarat Sidhee Cement - India
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- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Minerals Council of Australia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
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- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Australian Coal Association
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
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