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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Wednesday, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Economic Council, Georgia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
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