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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, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
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