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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Global Coal Blending Company Limited - Australia
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- Antam Resourcindo - Indonesia
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- Eastern Energy - Thailand
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- Cement Manufacturers Association - India
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- Georgia Ports Authority, United States
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- Indian Energy Exchange, India
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- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
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- European Bulk Services B.V. - Netherlands
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- Baramulti Group, Indonesia
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- Larsen & Toubro Limited - India
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- The University of Queensland
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- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
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- Attock Cement Pakistan Limited
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- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
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- Star Paper Mills Limited - India
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- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
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- Gujarat Mineral Development Corp Ltd - India
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- Wilmar Investment Holdings
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- CNBM International Corporation - China
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- Ministry of Mines - Canada
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- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
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- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
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- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
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- Marubeni Corporation - India
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- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
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- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
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- White Energy Company Limited
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- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
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- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
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- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
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- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
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- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
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- OPG Power Generation Pvt Ltd - India
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