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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Independent Power Producers Association of India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
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