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