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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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Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Australian Coal Association
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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