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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 $200bn’ he said.
Source: Hellenic Shipping News
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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