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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
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