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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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Thursday, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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