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