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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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Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
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- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
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