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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- Central Electricity Authority - India
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- Alfred C Toepfer International GmbH - Germany
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- Wood Mackenzie - Singapore
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- London Commodity Brokers - England
- Videocon Industries ltd - India
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- European Bulk Services B.V. - Netherlands
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- Eastern Energy - Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Planning Commission, India
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- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
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- International Coal Ventures Pvt Ltd - India
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- Romanian Commodities Exchange
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- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
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- Energy Development Corp, Philippines
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- Toyota Tsusho Corporation, Japan
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- Economic Council, Georgia
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- Ministry of Transport, Egypt
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- Banpu Public Company Limited - Thailand
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- Therma Luzon, Inc, Philippines
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- Karbindo Abesyapradhi - Indoneisa
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- CNBM International Corporation - China
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- The State Trading Corporation of India Ltd
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- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- White Energy Company Limited
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- Electricity Authority, New Zealand
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- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
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- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
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- PowerSource Philippines DevCo
- Australian Coal Association
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- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
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- Tata Chemicals Ltd - India
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- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Wilmar Investment Holdings
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- Thai Mozambique Logistica
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- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
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- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
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- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
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- New Zealand Coal & Carbon
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- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
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