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