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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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Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
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- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
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