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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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Wednesday, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
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