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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- White Energy Company Limited
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
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