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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
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- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
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