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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, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...
Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...
Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...
Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...
Thursday, 12 March 09
INDONESIA'S CIREBON ELEC IN TALKS ON COAL SUPPLIES - REUTERS
Reuters reported that, Indonesia's PT Cirebon Electric Power, an independent power producer, is in talks with a number of coal suppliers to seek a ...
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- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
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