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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, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
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- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
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