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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- White Energy Company Limited
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
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