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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
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- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Australian Coal Association
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
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