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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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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
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