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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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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
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- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
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- The Treasury - Australian Government
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- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
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- Posco Energy - South Korea
- PTC India Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- The University of Queensland
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Australian Coal Association
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