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