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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, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Central Electricity Authority - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
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