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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
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