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Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
 Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight rates, according to shipbroker R.S. Platou ASA.
“If half the orderbook is never built, then we can keep the market fairly balanced,” Bjorn Bodding, a senior analyst at Platou, said today at a conference in Singapore. Even axing a third wouldn’t be enough to help rates recover before 2012, he added.
Bulk-shipping rates have tumbled 78 percent from a record last year as growth in the global fleet outpaces China’s demand for iron ore and coal shipments. The glut could worsen as commodity companies, such as Noble Group Ltd., build up their fleets.
“What worries me even more than the existing orderbook is seeing people ordering or about to order more tonnage,” said Andreas Sohmen-Pao, chief executive officer of ship operator BW Maritime. “That’s stretching out the problem further.”
Noble Group, a Hong Kong-based supplier of raw materials, ordered five bulk carriers worth about $320 million in August. Vale SA, the world’s biggest iron-ore producer, plans to order 11 large bulk carriers, South Korean News agency Yonhap said on Oct. 7.
China Cosco Holdings Co., the world’s largest dry-bulk ship operator, canceled eight vessels in July after slumping to two straight losses on plunging rates.
Commodity carriers with a capacity of 291 million deadweight tons are on order worldwide, according to Drewry Shipping Consultants Ltd. That’s equivalent to 66 percent of the existing fleet.
Rates Rebound
A rebound in freight rates since April has encouraged shipping lines to grow their fleets, even as rates remain near breakeven levels. The Baltic Dry Index, a measure of commodity- shipping costs, has risen to 2,647 yesterday from 1,463 on April 8. With the index above 2,000 points, a portion of the more expensive vessels on order can be run profitably, according to DBS Vickers Securities analysts Chong Wee Lee and Ho Pei Hwa.
“This has led to resurgence in vessel deliveries and reduced demolition activities, thereby aggravating the industry’s oversupply,” the analysts wrote in an Oct. 5 report.
Dry-bulk ship deliveries increased 35 percent in the four months ended August from the preceding four months, they said. Scrapping fell 61 percent.
Shipping rates have also been boosted this year by government economic stimulus plans, including a 4 trillion yuan ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
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- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
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