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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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Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
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- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- PTC India Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
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