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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Australian Coal Association
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
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