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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, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
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- Trasteel International SA, Italy
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
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- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
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- Tamil Nadu electricity Board
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- Ministry of Finance - Indonesia
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- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
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- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Australian Coal Association
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
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- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
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- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
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- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
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