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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, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
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