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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 ($586 billion) package in China. Demand for iron ore and freight rates may begin to fall once these plans are completed, said Keith Denholm, director of PCL (Shipping) Pte.
“The levels that we are seeing today are just not sustainable,” he said. “The question now is whether the private sector is going to be able to stand on its two feet without the assistance of the government stimulus packages.”
Source: Bloomberg
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
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