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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Trasteel International SA, Italy
- White Energy Company Limited
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Australian Coal Association
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- VISA Power Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
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