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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
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