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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, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- Straits Asia Resources Limited - Singapore
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- VISA Power Limited - India
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- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
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- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
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- ICICI Bank Limited - India
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- Mintek Dendrill Indonesia
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- Wilmar Investment Holdings
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- PetroVietnam Power Coal Import and Supply Company
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- Chamber of Mines of South Africa
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- Singapore Mercantile Exchange
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- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
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- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
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- Australian Coal Association
- Bangladesh Power Developement Board
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- Mjunction Services Limited - India
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- Electricity Generating Authority of Thailand
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- Planning Commission, India
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- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
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- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
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- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
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- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
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- Petrochimia International Co. Ltd.- Taiwan
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- Toyota Tsusho Corporation, Japan
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- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
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- GAC Shipping (India) Pvt Ltd
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
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- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Siam City Cement PLC, Thailand
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- IEA Clean Coal Centre - UK
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- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
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