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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 $200bn’ he said.
Source: Hellenic Shipping News
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
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