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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- The University of Queensland
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
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