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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, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
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