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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, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
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