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