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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- The University of Queensland
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- GMR Energy Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
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