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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- India Bulls Power Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
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