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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Xindia Steels Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- White Energy Company Limited
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
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