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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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- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
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