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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- MS Steel International - UAE
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- ASAPP Information Group - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
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