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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, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
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- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
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