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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
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- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
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