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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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Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Mercuria Energy - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Minerals Council of Australia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
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