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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 $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- VISA Power Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
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