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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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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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Showing 6216 to 6220 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- The University of Queensland
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
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