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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 $200bn’ he said.
Source: Hellenic Shipping News
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Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
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- Mjunction Services Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
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