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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, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
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