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