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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
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