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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
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- Directorate Of Revenue Intelligence - India
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- Georgia Ports Authority, United States
- Eastern Energy - Thailand
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- The State Trading Corporation of India Ltd
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- Standard Chartered Bank - UAE
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- Ceylon Electricity Board - Sri Lanka
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- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
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- The University of Queensland
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- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
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- SMC Global Power, Philippines
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- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
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- Australian Coal Association
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- Timah Investasi Mineral - Indoneisa
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- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
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- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
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- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
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- Chamber of Mines of South Africa
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- Metalloyd Limited - United Kingdom
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- Toyota Tsusho Corporation, Japan
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- Economic Council, Georgia
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- Thai Mozambique Logistica
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- Jaiprakash Power Ventures ltd
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- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
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- Global Coal Blending Company Limited - Australia
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- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- VISA Power Limited - India
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- Sinarmas Energy and Mining - Indonesia
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- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Parliament of New Zealand
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- Agrawal Coal Company - India
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- Wilmar Investment Holdings
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- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
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- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
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- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
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- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
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- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
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- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
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