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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, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
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Showing 6171 to 6175 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
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