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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
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