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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, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
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- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- White Energy Company Limited
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
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