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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, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
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- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Australian Coal Association
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
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