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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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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
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