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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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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Planning Commission, India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
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