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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, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- White Energy Company Limited
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- The University of Queensland
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
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