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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- The University of Queensland
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
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