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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, 05 November 09
HMS BERGBAU AG OPENING INDIAN OFFICE
Further step on internationalization track Office in Mumbai Participation in demand for coal imports
HMS Bergbau AG, is an international coal tra ...
Thursday, 05 November 09
SAM'S SEAFOOD HOLDINGS MOVES STEP CLOSER TO COAL EXPLORATION IN INDONESIA
Sam’s Seafood Holdings Limited, which is proposed to be renamed Pan Asia Corporation Limited, is moving closer to becoming an exploration and ...
Wednesday, 04 November 09
INDONESIA CAP ON COAL EXPORTS MAY HIT INDIAN POWER SECTOR
BL reported that Karnataka power sector is likely to be partially impacted by the Indonesian Government move to restrict coal exports.
Private se ...
Wednesday, 04 November 09
SA 2010 COAL EXPORTS SEEN AT 65M TO 68M TONS - ANALYSTS
South Africa's thermal coal exports could rise to as high as 68 million tonnes in 2010 but are more likely to be 64-65 million compared to 60 milli ...
Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
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- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
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