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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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Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- PTC India Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
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