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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, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- The University of Queensland
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
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