We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
|
|
|
Showing 5726 to 5730 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
|
| |
| |
|
