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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Deloitte Consulting - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
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