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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
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