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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Planning Commission, India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
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