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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
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