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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
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