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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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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Planning Commission, India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Australian Coal Association
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
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