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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 $200bn’ he said.
Source: Hellenic Shipping News
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Australian Coal Association
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
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