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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- PTC India Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
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