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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, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Bhushan Steel Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
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