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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
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