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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, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Planning Commission, India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
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