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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, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- The University of Queensland
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
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