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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
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