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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Minerals Council of Australia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Australian Coal Association
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
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