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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- The University of Queensland
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
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