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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- PTC India Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
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