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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
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