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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, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
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