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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
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