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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 $200bn’ he said.
Source: Hellenic Shipping News
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
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