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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
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