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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Parliament of New Zealand
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
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