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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Formosa Plastics Group - Taiwan
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- Star Paper Mills Limited - India
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- Wood Mackenzie - Singapore
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- IEA Clean Coal Centre - UK
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- Economic Council, Georgia
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- Africa Commodities Group - South Africa
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- SN Aboitiz Power Inc, Philippines
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- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
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- Price Waterhouse Coopers - Russia
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- Renaissance Capital - South Africa
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- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
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- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
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- Globalindo Alam Lestari - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Standard Chartered Bank - UAE
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- Mintek Dendrill Indonesia
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- Australian Commodity Traders Exchange
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- Straits Asia Resources Limited - Singapore
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- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
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- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
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- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
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- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
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- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
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- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
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- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
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- MS Steel International - UAE
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- Independent Power Producers Association of India
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- Iligan Light & Power Inc, Philippines
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- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
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