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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, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Economic Council, Georgia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Malabar Cements Ltd - India
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