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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, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
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- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Australian Coal Association
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- VISA Power Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
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