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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
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