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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
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