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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
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