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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
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- Minerals Council of Australia
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- Global Business Power Corporation, Philippines
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- The Treasury - Australian Government
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- Ambuja Cements Ltd - India
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- Planning Commission, India
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- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
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- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
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- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
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- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
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- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
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- White Energy Company Limited
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- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
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- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
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- Petron Corporation, Philippines
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- Wilmar Investment Holdings
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- Australian Coal Association
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- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
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- Vizag Seaport Private Limited - India
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- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
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