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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, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
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- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
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