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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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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
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