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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, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
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- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- The University of Queensland
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Deloitte Consulting - India
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