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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- Edison Trading Spa - Italy
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- Ministry of Finance - Indonesia
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- The University of Queensland
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- Chamber of Mines of South Africa
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- Bayan Resources Tbk. - Indonesia
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- McConnell Dowell - Australia
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- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
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- Parliament of New Zealand
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- Videocon Industries ltd - India
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- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
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- Eastern Coal Council - USA
- Indian Oil Corporation Limited
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- Meralco Power Generation, Philippines
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- The State Trading Corporation of India Ltd
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- AsiaOL BioFuels Corp., Philippines
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- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
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- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
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- Indonesian Coal Mining Association
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- Global Coal Blending Company Limited - Australia
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- Australian Coal Association
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- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
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- Mintek Dendrill Indonesia
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- Cement Manufacturers Association - India
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- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
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- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
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- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
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- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
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- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
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- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
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