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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
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