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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
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