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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, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Minerals Council of Australia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
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