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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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Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
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