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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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Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
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- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
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