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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, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
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- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
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- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
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- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
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- OPG Power Generation Pvt Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
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- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
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- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
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- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
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- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
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- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
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- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
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