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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, 13 April 09
INDIA'S NTPC FOURTH-QUARTER PROFIT RISES 30% ON POWER OUTPUT - BLOOMBERG
NTPC Ltd., India’s biggest electricity generator, said profit rose 30 percent in the fourth quarter after higher efficiency helped production. ...
Thursday, 09 April 09
INDONESIAN CILACAP, FISHERMEN PROTEST COAL BARGES ANCHORING IN BAY - THE JAKARTA POST
Fishermen in Cilacap, Central Java, have protested against the presence of dozens of coal barges lying at anchor in Teluk Penyu Bay, claiming they a ...
Thursday, 09 April 09
INDONESIA'S PLN (STATE ELECTRICITY COMPANY) TO SET POWER PURCHASE PRICES FOR INDEPENDENT PRODUCERS - THE JAKARTA POST
State power company PT PLN holds the mandate to set power purchase prices to buy electricity produced by its (IPP) business partners, aiming at flex ...
Wednesday, 08 April 09
ARCELORMITTAL BUYS STAKE IN COAL OF AFRICA - MINEWEB
Steel maker, ArcelorMittal SA, has acquired a 16.3 percent stake in Coal of Africa Ltd. for $44.98 million in cash.
ArcelorMittal SA, the South A ...
Wednesday, 08 April 09
EXPORTS AT AUSTRALIA NEWCASTLE COAL PORT FALL ON STORM -MINING-JOURNAL
Coal exports from Australia's Newcastle port, the world's largest coal export terminal, fell roughly 18% last week to a 4½-month low, as ro ...
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- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- The University of Queensland
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
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