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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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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
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