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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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Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
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