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