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