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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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Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
Wednesday, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
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- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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