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Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
 Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaode, the company's president said yesterday. "We will intensify our cooperation with Shenhua Group to improve the freight capacity for coal", Li, who is also a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), told China Daily on the sidelines of the ongoing conference.
"The first two months have already seen seven million tons of coal shipped," he said, "and we estimate that it will rise to 40 million tons for the whole year."
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“2010 coal demand is likely to rise by 4 to 6 percent over last year to some 3.36 bln tons, and production will increase by nearly 300 mln tons” - National Coal Association, China
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As the second largest sea-cargo group in China, China Shipping (Group) Company transported less than 10 million tons of coal for Shenhua Group in 2009, while Shenhua Group, China's largest coal producer, had 159 million tons of its coal shipped in total that year.
According to data from the National Coal Association, 2010 coal demand is likely to rise by 4 to 6 percent over last year to some 3.36 billion tons, and production will increase by nearly 300 million tons.
Efforts to Improve Freight Capacity
However, Li also expressed his concern about the slow recovery of the global economy and its effect on China's exports, and said the company will not adjust its container business this year. Instead, it will concentrate its efforts on improving the freight capacity of oil tankers and bulk carriers.
The shipping capacity of oil tankers will rise by 30 percent to 7 to 7.5 million tons in 2010, and that of bulk carriers will increase by 15 percent to 30 percent to 8 to 8 million tons, he said. Data show that the freight capacity of the company's bulk carriers rose by 10% in 2009 over the previous year.
"By the end of this year, 12 oil tankers each with a carrying capacity of 3 million tons will be put into operation," he said.
The company has also ordered 16 VLOCs (Very Large Ore Carriers), half with a freight capacity of 230,000 tons and half 3 million tons. "Four of the 230,000 ton-capacity VLOCs will be put into use this year," Li added.
No Major M&A Investment in 2010
When asked about the company's overseas merger and acquisition plans for 2010, Li Shaode replied that although there are ample opportunities, right now is not the best time for major investments. "We will have to wait till the next year, when we will pour our money into port construction and logistics," he said.
However, Li did reveal that talks on liquefied natural gas (LNG) transportation between the company and China's two oil giants, China National Petroleum Corporation (CNPC) and China Petroleum and Chemical Corporation (Sinopec), will yield an agreement soon.
As for the global shipping market in 2010, Li said he expects the cargo rates to "rise in the first few months and drop in the last few months," as indicated by the current supply and demand. "So we will try to attract as many as customers as possible in the first half of the year," he said.
Latest Agreements
China Shipping Development, a listed subsidiary of China Shipping (Group) Company, concluded a strategic cooperation agreement with China Datang Corporation (CDT) while China Shipping Container Lines, another listed subsidiary signed a strategic cooperation agreement with China Grain Reserves Corporation (Sinograin) a day later.
Source: China Daily / Hellenic Shipping News
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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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Showing 5981 to 5985 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
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- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
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- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
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- Kideco Jaya Agung - Indonesia
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- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
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- MS Steel International - UAE
- Interocean Group of Companies - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Ministry of Mines - Canada
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- The Treasury - Australian Government
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- Orica Mining Services - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
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- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
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- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
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- Minerals Council of Australia
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- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
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- Agrawal Coal Company - India
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- Deloitte Consulting - India
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- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
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- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
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- The State Trading Corporation of India Ltd
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- VISA Power Limited - India
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- Eastern Coal Council - USA
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- PTC India Limited - India
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- Ministry of Finance - Indonesia
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- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
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- Sojitz Corporation - Japan
- Economic Council, Georgia
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- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
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- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
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- Therma Luzon, Inc, Philippines
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- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
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- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
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- Jaiprakash Power Ventures ltd
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- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Metalloyd Limited - United Kingdom
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- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
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- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
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- Australian Coal Association
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- Tata Chemicals Ltd - India
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- IEA Clean Coal Centre - UK
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