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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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Showing 5786 to 5790 news of total 6871 |
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- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- The University of Queensland
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
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