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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
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