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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, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
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