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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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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
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