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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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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- The University of Queensland
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
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