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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Heidelberg Cement - Germany
- The University of Queensland
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Marubeni Corporation - India
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