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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, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
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