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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, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
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