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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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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
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