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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
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