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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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Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Australian Coal Association
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
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