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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- MS Steel International - UAE
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
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