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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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Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
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- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- CNBM International Corporation - China
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
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