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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- The University of Queensland
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
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