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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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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
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