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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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Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Australian Coal Association
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
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