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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, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
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