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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Planning Commission, India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- India Bulls Power Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
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