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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
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