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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
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