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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Deloitte Consulting - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
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