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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, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
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- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
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