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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, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
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