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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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Tuesday, 30 November 99
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Showing 6871 to 6871 news of total 6871 |
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- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
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- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
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- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
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- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
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- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
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- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
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- Independent Power Producers Association of India
- New Zealand Coal & Carbon
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- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
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- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
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- TeaM Sual Corporation - Philippines
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- Commonwealth Bank - Australia
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- Larsen & Toubro Limited - India
- Economic Council, Georgia
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- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
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- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
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- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
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- Minerals Council of Australia
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- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
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- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
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- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
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- Electricity Authority, New Zealand
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- India Bulls Power Limited - India
- Eastern Coal Council - USA
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- Mjunction Services Limited - India
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- Thiess Contractors Indonesia
- Mercator Lines Limited - India
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- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
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