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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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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
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- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
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