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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
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