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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
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Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
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- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
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