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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, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
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