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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- The University of Queensland
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Planning Commission, India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
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