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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, 23 June 09
NAPOCOR TO RE-TENDER FOR 195,000 T COAL IN JULY
Electricity producer National Power Corp. (Napocor) will hold a tender on July 15 to buy 195,000 tons of steam coal for its Sual power station, the ...
Monday, 22 June 09
ONE DIES IN KUTAI COAL TUNNEL COLLAPSE
The Jakarta Post reported that, A tunnel at a coal mine belonging to company PT Fajar Bumi Sakti in Kutai Kartanegara, East Kalimantan collapsed on ...
Monday, 22 June 09
THIS WEEK IS EXPECTED TO BE FIRM AND DEMAND OF SHIPS WOULD BE STRONG - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI up by 487 points over last week which is an increase of almost 13 pct. The increase is again mainly due to Ca ...
Monday, 22 June 09
CHINESE MAY COAL IMPORTS HIT RECORD 9.43 MILLION TONNES
Reuters quoted Custom Data showed that China's coal imports hit an all-time record of 9.43 million tonnes in May.
The figure surpasses the previ ...
Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
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- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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