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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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- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Ministry of Mines - Canada
- PTC India Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
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