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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, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
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