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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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Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
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