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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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