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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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Wednesday, 25 March 09
MINISTER ASKS ROYALTIES BE PAID IN COAL, NOT CURRENCY - THE JAKARTA POST
Coal companies could pay their royalties to the government in coal, rather than in rupiah, under a proposal made by Energy and Mineral Resources Min ...
Wednesday, 25 March 09
INDONESIA'S STATE ELECTRICITY COMPANY DEMAND FOR COAL TO SOAR NEXT YEAR AS POWER OUTPUT RISES - THE JAKARTA POST
State electricity company PT PLN will need more coal next year as it seeks to generate more power through new plants operated by its subsidiary PT I ...
Tuesday, 24 March 09
INDONESIA'S KPC AGREES FIRST MAJOR CHINA COAL DEAL - REUTERS
Indonesian miner PT Kaltim Prima Coal last week agreed its first major long-term deal to sell thermal coal to China, with 1 million tonnes to be shi ...
Tuesday, 24 March 09
INDONESIA ANTAM'S SETS ASIDE $37 MLN FOR COAL MINES - REUTERS
Indonesian state-owned miner, PT Aneka Tambang Tbk, has allocated $37 million for acquiring coal mines, the company said on Monday.
Antam said la ...
Monday, 23 March 09
NIPPON STEEL, BMA AGREE TO 57 PCT CUT IN COAL PRICE - REUTERS
Nippon Steel Corp has agreed with Australia's BHP Billiton Mitsubishi Alliance (BMA) to pay $128 to $129 per tonne for coking coal in the year from ...
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- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
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