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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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Wednesday, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
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