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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, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
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- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
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