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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Planning Commission, India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- The University of Queensland
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
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