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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
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