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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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Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
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