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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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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- PTC India Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Australian Coal Association
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
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