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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, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- Economic Council, Georgia
- London Commodity Brokers - England
- Central Electricity Authority - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- The University of Queensland
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
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