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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
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