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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Wood Mackenzie - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Romanian Commodities Exchange
- The Treasury - Australian Government
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- Mjunction Services Limited - India
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- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
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- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
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- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
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- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
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- Thai Mozambique Logistica
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- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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