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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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Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
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