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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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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
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- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
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- Malabar Cements Ltd - India
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- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
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- Deloitte Consulting - India
- Indian Energy Exchange, India
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- Mercator Lines Limited - India
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- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
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- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
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- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
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