We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
 Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which succeded a significant rally. The Baltic Dry Index has been rising steadily from Wednesday, surpassing once again the 4,000-point barrier, ending yesterday’s session up by a healthy 144 points to reach 4,062 points. Shipbrokers had already warned about the expected increase after observing renewed cargo interest ahead of the holiday season.
In its weekly report, Fearnley’s said that the trend from the last couple of weeks is broken, with the Capesize segment again picking up momentum. Indeed, the Baltic Capesize Index gained 288 points at 6,640 leading yesterday’s session, with the Panamax segment following closely. Referring to the capesize market, Fearnley’s noted that “declining steadily some 12% from $73500 to $64500 before recovering, average daily spot earnings now stand at close to USD 70000 and short-terms prospects are bright. Congestion remains considerable in main discharging ports and activity is picking up on the back of increased inquiry by both industrial bodies and operators.
Atlantic is leading the way by means of a very balanced cargo/tonnage ratio, supported by Australian miners absorbing a considerable chunk of prompt Pacific units. FFA levels finally give support to the period fixing taking place earlier in the week, including 180000 dwt/2009 N/B done for 12 months basis Dec delivery at USD 40000 and 180000 dwt/built 2009 fetching USD 42000 for 12 months basis prompt delivery off Muscat” the broker concluded.
According to a quote in Reuters by Adrew Dawson, an FIS broker, “there is a lot of fresh cargo enquiry in the Atlantic but it seems a large percentage of this is not actually firm business but more talk by traders trying to sell cargoes into a softer freight market". In the longer term though, brokers expect the market to continue presenting increased volatility, before facing increased downward pressure after the first quarter of next year, mainly as a result of an increase of tonnage supply, as more new buildings are bound to hit the water.
But, a series of reports this week, indicated that things may well turn the other way around. For instance, Cosco’s Chairman, Wei Jiafu said at a conference in Shanghai that ship owners may cancel or delay about 40% of new vessel orders (of all ship types) by the end of 2010, as a result of overcapacity concerns. Chinese shipyards have had orders for 88 vessels canceled this year through October, as lines, including Cosco, pare growth because of the global recession. Global shipyards hold bulk-ship orders equal to 60 percent of the capacity of the existing fleet, according to data compiled by Bloomberg. For container ships, the figure is 36 percent.
Meanwhile, in other remarks, this time by Clarkon Plc’s Managing Director Martin Stopford, the orderbook was now 44% of the extant fleet, compared with just 11% in 2000. ‘My guess is this is at least twice as much capacity as is really needed,’ he said. The orderbook has a contract value of $464bn, he said, but the actual market value of these ships if sold on delivery ‘could be half that amount’. Ships ordered in past years are at prices 30 to 50% above today’s collateral value, warned the doctor. He urged yards to slow delivery times for the coming couple of years. Owners and yards needed urgent dialogue, stressed Stopford, noting that, ‘On a purely financial note, someone must be prepared to write off $200bn’ he said.
Source: Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
|
|
|
Showing 6046 to 6050 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
|
| |
| |
|
