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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
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