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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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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- The University of Queensland
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
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