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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- White Energy Company Limited
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- The University of Queensland
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
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