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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
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