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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, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
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