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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
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