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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
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