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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
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