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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
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