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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, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
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