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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- The University of Queensland
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
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