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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, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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