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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, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- India Bulls Power Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
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