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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
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