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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
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