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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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