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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Marubeni Corporation - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
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