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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, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
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