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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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Showing 5986 to 5990 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
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- Global Coal Blending Company Limited - Australia
- Planning Commission, India
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- Renaissance Capital - South Africa
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- Eastern Coal Council - USA
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- Romanian Commodities Exchange
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- Deloitte Consulting - India
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- Toyota Tsusho Corporation, Japan
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- Merrill Lynch Commodities Europe
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- Parliament of New Zealand
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- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
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- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
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- Ministry of Finance - Indonesia
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- SMC Global Power, Philippines
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- Electricity Authority, New Zealand
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- Electricity Generating Authority of Thailand
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- Georgia Ports Authority, United States
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- Karaikal Port Pvt Ltd - India
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- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
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- Meralco Power Generation, Philippines
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- Cement Manufacturers Association - India
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- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
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- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
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- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
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- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
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- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
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