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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
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- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
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- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Parliament of New Zealand
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- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
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