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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- Renaissance Capital - South Africa
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
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