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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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Showing 5611 to 5615 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- White Energy Company Limited
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
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