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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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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
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