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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Economic Council, Georgia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
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