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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
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