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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, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Edison Trading Spa - Italy
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