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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- PTC India Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
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