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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- PTC India Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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