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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
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