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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Planning Commission, India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
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