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