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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Planning Commission, India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
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