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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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Showing 6201 to 6205 news of total 6871 |
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- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
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