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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, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
Friday, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
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- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Australian Coal Association
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
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