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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 $200bn’ he said.
Source: Hellenic Shipping News
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Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
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