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