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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, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
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