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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
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