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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 $200bn’ he said.
Source: Hellenic Shipping News
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Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
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- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Planning Commission, India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Australian Coal Association
- Minerals Council of Australia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
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