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.
|
|
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, ...
|
|
|
Showing 5766 to 5770 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
|
| |
| |
|
