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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, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
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- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Posco Energy - South Korea
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
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