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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, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
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- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- PTC India Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- CNBM International Corporation - China
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
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