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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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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- The University of Queensland
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
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