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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Eastern Coal Council - USA
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Central Electricity Authority - India
- The University of Queensland
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
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