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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 $200bn’ he said.
Source: Hellenic Shipping News
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
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