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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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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
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