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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
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