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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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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
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- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Minerals Council of Australia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
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