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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Semirara Mining and Power Corporation, Philippines
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- Planning Commission, India
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- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
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- Australian Commodity Traders Exchange
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- International Coal Ventures Pvt Ltd - India
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- Indian Energy Exchange, India
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- Parliament of New Zealand
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- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
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- Neyveli Lignite Corporation Ltd, - India
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- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
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- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
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- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
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- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
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- New Zealand Coal & Carbon
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- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
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- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
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- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
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- Sree Jayajothi Cements Limited - India
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- Sakthi Sugars Limited - India
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- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
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- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
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- Standard Chartered Bank - UAE
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- Africa Commodities Group - South Africa
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- Economic Council, Georgia
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- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
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- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
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- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
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- MS Steel International - UAE
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- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
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- PowerSource Philippines DevCo
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- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
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- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
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- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
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- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
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- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
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- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
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- Ministry of Mines - Canada
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- Directorate General of MIneral and Coal - Indonesia
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- Chamber of Mines of South Africa
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