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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
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