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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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- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- PTC India Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
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