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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
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
Tuesday, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
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- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
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