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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, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- The University of Queensland
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Australian Coal Association
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
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