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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- MS Steel International - UAE
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- The University of Queensland
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
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