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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 $200bn’ he said.
Source: Hellenic Shipping News
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
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