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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
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