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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- White Energy Company Limited
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
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