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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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Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- PTC India Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
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