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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
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