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