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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, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
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