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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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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
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