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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- The University of Queensland
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
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