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