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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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Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
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- London Commodity Brokers - England
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
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