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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Australian Coal Association
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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