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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 $200bn’ he said.
Source: Hellenic Shipping News
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Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
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- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Planning Commission, India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
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