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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Planning Commission, India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
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