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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- The University of Queensland
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
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