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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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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
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