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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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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Australian Coal Association
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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