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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
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