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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- The University of Queensland
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
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