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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- PTC India Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
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