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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
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