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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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Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
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