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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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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
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