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Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
 The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dry Index (BDI) posted Monday its 32nd consecutive loss, retreating down to 1,840 points, down by 62 since Friday’s session. Yesterday, marked the return of downward pressures to the capesize segment, as the Baltic’s Capesize Index lost 153 points. By contrast, the panamax market was practically stagnant.
According to Commodore Research’s latest weekly report, “dry bulk freight rates decreased sharply last week due to significant supply-related pressure. Port congestion remains significantly lower than congestion seen earlier in the year. The recent decrease in congestion combined with the continued delivery of a large amount of newbuildings is largely responsible for freight rates coming under recent pressure. A moderate amount of cargo demand has come to the market in the last two weeks, with Asian thermal coal demand remaining extremely robust and grain and iron ore demand remaining firm. 24 iron ore fixtures were reported last week, 3 less than during the previous week.
Capesize rates are currently averaging $17,643/day, a decrease of $5,826 (-25%) from the previous week. Panamax rates are averaging $15,679/day, a decrease of $4,040 (-20%). Supramax rates are now averaging $18,999/day, a decrease of $1,863 (-9%). Handysize rates are averaging $14,736/day, a decrease of $1,601 (-10%)” said the report.
Based on the report, Chinese iron ore demand has remained firm, although ore fixtures have declined from the previous week which has contributed to spot ore prices coming under additional pressure. In addition, global grain demand has remained healthy, with a moderate amount of grain fixtures continuing to be chartered to load grain shipments from South America. Similarly, “iron ore stockpiles at Chinese ports have risen to an extremely high level.
Chinese ports have not held ore stockpiles exceeding 72 million tons since September 2009. Contrary to a few market rumors, spot iron ore fixtures have remained relatively firm during the last few weeks which has helped iron ore stockpiles slowly increase. With Chinese iron ore port stockpiles now at near record levels, however, spot ore fixtures could begin to come under moderate pressure” warned Commodore.
With respect to the port congestion developments, the report said that approximately 155 vessels are currently anchored outside Australian ports, 5 less than a week ago. Approximately 45 vessels are anchored outside Brazilian ports, 15 less than a week ago. Of the 200 vessels congested outside of Australian and Brazilian ports, about 115 of them are Capesize vessels. In comparison, 125 Capesize vessels were anchored outside of Australian and Brazilian ports a week ago. The decline in Capesize congestion at Australian and Brazilian ports has contributed to mention Dalrymple bay and Newcastle.
On a similar note, shipbrokers N.Cotzias Shipping Group said that the BDI has lost a total of 54.8% since the 26th of May and until the previous Friday. “This proves our point that the Baltic Indices behave in a much more “financial market” manner posing more volatility and definitely shorter periodicity of peaks and troughs. Presently all the Dry Bulk markets are definitely facing a 14 month low, and the generic Baltic Dry index during this 14 month period, had previously never fallen below the 2,000 point mark.
It was only on May the 5th of 2009 that we had recorded the BDI at 1897 points and then the index moved really fast by doubling its value in less than a month. What has happened today though and we are facing such a serious collapse? When we record cape daily earnings to have lost ]20% in just a couple of days, then yes we talk of a collapsed market!” said the broker in a report.
It goes on to state that “we are facing a “chicken]egg” situation, where falling commodity prices are primarily responsible for the collapse of the shipping markets and falling shipping markets are responsible for falling commodity prices. But that can be seen as an opportunistic situation for Iron/Ore traders who know that China will buy “X” quantities during the next 2]3 months. Iron/ore prices are declining. Just for comparison levels, they have dropped by 30% since April 2010 prices and as we see every week a softening of the commodity price per ton, traders will not buy today as they know that tomorrow the same parcel will cost less” Cotzias said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- The University of Queensland
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
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