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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Mercator Lines Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
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