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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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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
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