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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, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
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- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
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