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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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Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
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