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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, 05 November 09
HMS BERGBAU AG OPENING INDIAN OFFICE
Further step on internationalization track Office in Mumbai Participation in demand for coal imports
HMS Bergbau AG, is an international coal tra ...
Thursday, 05 November 09
SAM'S SEAFOOD HOLDINGS MOVES STEP CLOSER TO COAL EXPLORATION IN INDONESIA
Sam’s Seafood Holdings Limited, which is proposed to be renamed Pan Asia Corporation Limited, is moving closer to becoming an exploration and ...
Wednesday, 04 November 09
INDONESIA CAP ON COAL EXPORTS MAY HIT INDIAN POWER SECTOR
BL reported that Karnataka power sector is likely to be partially impacted by the Indonesian Government move to restrict coal exports.
Private se ...
Wednesday, 04 November 09
SA 2010 COAL EXPORTS SEEN AT 65M TO 68M TONS - ANALYSTS
South Africa's thermal coal exports could rise to as high as 68 million tonnes in 2010 but are more likely to be 64-65 million compared to 60 milli ...
Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
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- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
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