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