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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
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