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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Eastern Energy - Thailand
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- The University of Queensland
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
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