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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, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Ministry of Transport, Egypt
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- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
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- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
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- SMC Global Power, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
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