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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
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