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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, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
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- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- MS Steel International - UAE
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