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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, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
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