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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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Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- The University of Queensland
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
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