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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
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- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
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- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- PTC India Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
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