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