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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- White Energy Company Limited
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
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