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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
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