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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Planning Commission, India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
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