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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Planning Commission, India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- White Energy Company Limited
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
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