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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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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
Thursday, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
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Showing 6161 to 6165 news of total 6871 |
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- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
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