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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 $200bn’ he said.
Source: Hellenic Shipping News
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Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
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- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- The University of Queensland
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
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