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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
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