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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, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
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- Carbofer General Trading SA - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- The University of Queensland
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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