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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
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