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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, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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Showing 5701 to 5705 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
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