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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
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