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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- Bhatia International Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Minerals Council of Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Romanian Commodities Exchange
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