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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- European Bulk Services B.V. - Netherlands
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- Orica Mining Services - Indonesia
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- Standard Chartered Bank - UAE
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- Goldman Sachs - Singapore
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- Sojitz Corporation - Japan
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- Alfred C Toepfer International GmbH - Germany
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- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
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- The Treasury - Australian Government
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- Eastern Energy - Thailand
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- Altura Mining Limited, Indonesia
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- Energy Development Corp, Philippines
- Eastern Coal Council - USA
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- Coal and Oil Company - UAE
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- Energy Link Ltd, New Zealand
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- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
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- Indonesian Coal Mining Association
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- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
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- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
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- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
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- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
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- Georgia Ports Authority, United States
- Latin American Coal - Colombia
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- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
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- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
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- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
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- Star Paper Mills Limited - India
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- Intertek Mineral Services - Indonesia
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- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
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- Singapore Mercantile Exchange
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- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
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