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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Australian Coal Association
- The University of Queensland
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
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