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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, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Australian Coal Association
- Planning Commission, India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
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