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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, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- Thai Mozambique Logistica
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- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
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- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
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- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
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