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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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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Central Electricity Authority - India
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