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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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Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
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