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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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Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
Wednesday, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
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- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
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