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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Planning Commission, India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
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