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