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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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Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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Showing 6201 to 6205 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
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