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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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Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
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