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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, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
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- Formosa Plastics Group - Taiwan
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
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