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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
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
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- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
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