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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Bulk Trading Sa - Switzerland
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- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
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- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
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- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
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- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- White Energy Company Limited
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- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
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- Bukit Asam (Persero) Tbk - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
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- Miang Besar Coal Terminal - Indonesia
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- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
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- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
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- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
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- New Zealand Coal & Carbon
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- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
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- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
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