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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- The University of Queensland
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
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