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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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Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
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