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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Planning Commission, India
- Eastern Coal Council - USA
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
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