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