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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
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