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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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Planning Commission, India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Posco Energy - South Korea
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