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