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