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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, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
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