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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
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