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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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Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
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- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
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