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