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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, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
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- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Central Electricity Authority - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
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