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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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Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
Thursday, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
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- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
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