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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, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
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