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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
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