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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- The University of Queensland
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
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