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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- PTC India Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
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