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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 $200bn’ he said.
Source: Hellenic Shipping News
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- PTC India Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
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