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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, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Australian Coal Association
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
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