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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
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