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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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Thursday, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Australian Coal Association
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Planning Commission, India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
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