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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
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