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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
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- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
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- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
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- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Georgia Ports Authority, United States
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
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