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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Coal and Oil Company - UAE
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- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
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- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
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- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
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- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
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- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Australian Coal Association
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
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