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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
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