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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, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
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- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
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- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
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- Sical Logistics Limited - India
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- Bulk Trading Sa - Switzerland
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- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
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- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
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- Marubeni Corporation - India
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- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
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- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
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- Tata Chemicals Ltd - India
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- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
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- Indika Energy - Indonesia
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- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
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- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- The University of Queensland
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- Chamber of Mines of South Africa
- Romanian Commodities Exchange
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- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
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- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
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