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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, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
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