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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- CIMB Investment Bank - Malaysia
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- Australian Commodity Traders Exchange
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- Bangladesh Power Developement Board
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- Billiton Holdings Pty Ltd - Australia
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- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
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- Standard Chartered Bank - UAE
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- Planning Commission, India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
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- Georgia Ports Authority, United States
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- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
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- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Minerals Council of Australia
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- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- The University of Queensland
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
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