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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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Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
Thursday, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
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- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
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