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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 $200bn’ he said.
Source: Hellenic Shipping News
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
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