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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
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