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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, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Central Electricity Authority - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
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