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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, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- The University of Queensland
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
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