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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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Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
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- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Planning Commission, India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
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