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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, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
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- Australian Coal Association
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Parliament of New Zealand
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
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