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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- MS Steel International - UAE
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