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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, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
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