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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, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
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- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Parliament of New Zealand
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
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