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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Planning Commission, India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
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