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