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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, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
Thursday, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
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- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
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