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Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
 It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it be transparent in rising shipping rates and demand to move product across the ocean. But rates have tumbled dramatically in the past two months. A benchmark indicator is the U.S. Gulf to Japan route for a generic 50,000-tonne vessel. In mid-May, rates were US$73/t and dropped to $51/tonne one week ago, now rising slightly to $55/t.
The greatest declines are for the biggest vessels (70,000t tonnes or more), the ones used to carry iron ore and coal from Australia and Brazil to China. Such ships cost about US$48,000 a day in late May; but are now only about $18,000 a day, according to industry participants. China's demand for steel appears to have cooled following the recent price surge during the first half of the year and China's effort to cool property markets by restricting credit.
This doesn't imply the beginning of a permanent downtrend. China's economy may be slowing, but the need for raw ingredients can be expected to continue to rise... just that it comes and goes in waves. Furthermore, supply of ships is increasing. It takes about two to three years for a ship to be built and ready to sail after an order is placed and the freight rate spike of three years ago accelerated orders. During first-half 2010, new vessels are coming into service at a rate of 16 a month, a 23 per cent increase over last year, according to industry sources. However, this is now increasing to 23 a month.
Container rates, meanwhile, are reported to be flat. Freight rates from Vancouver to India have slipped fromUS$70-75/t three months ago to$55-60/t. This has helped edible pea bids. Vancouver to China is about U.S. $35/t, down from three-month ago levels of around $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- GMR Energy Limited - India
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