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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
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
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