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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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Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
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- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bhatia International Limited - India
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