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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, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Planning Commission, India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
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