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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- The University of Queensland
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
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