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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
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