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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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Tuesday, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
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