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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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Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
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- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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