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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
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