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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Planning Commission, India
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- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
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- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
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- Economic Council, Georgia
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- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
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- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
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- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
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- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
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- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
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- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
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- New Zealand Coal & Carbon
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- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Wilmar Investment Holdings
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