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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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Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
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- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
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