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Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
 With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterers its newest trends this week. But, if one takes into account the market’s behavior during the previous week, it’s obvious that as far as capesize owners are concerned, volatility is the name of the game. Capesize rates rose seven percent Monday but quickly recorded an eight percent decline on Wednesday, with charterers digging in their heels and causing rates to finally decline after practically a month on the rise. According to the latest weekly report by Commodore Research & Analysis, “Capesize spot chartering activity remained largely on par with the previous week. 24 iron ore fixtures were reported last week, a decrease from 28 iron ore fixtures reported during the previous week. The 24 fixtures is a firm amount - but down sharply from 36 ore fixtures seen during the week ending August 13. 18 of last week’s ore fixtures were for capesize vessels, the same amount reported during the week ending August 20” the report said.
Commenting on the general state of the market, the report noted that “last week’s low level of spot chartering activity is a cause for concern. Freight rates were able to remain relatively steady despite the decline but will likely be unable to hold steady this week if chartering activity does not increase. A healthy amount of period fixtures, however, continue to come to the market. We are in the thick of the dreaded second half of 2010 (dreaded due to the massive amount of newbuildings that were pegged to be on the water during this time) but dry bulk freight rates are well above where a large part of the market had expected them to be.
A steady supply of newbuilding deliveries continues to be delivered however. In addition, both near-term spot iron ore prices and Chinese steel prices show signs of possibly decreasing. Iron ore and Chinese steel prices had been increasing moderately since the middle of July but finally have reversed their rise. It is too early to determine whether prices are simply taking a breather or are poised to decrease” Commodore mentioned.
Another issue affecting freight rates is the recent Indian iron ore mess. India’s central government has voiced objections to the ongoing iron ore export ban in the southwestern state of Karnataka - but so far no official action has been taken to eliminate the ban. According to the central government, the ability to restrict exports is a power reserved solely for the central government and not for the states. India’s central government has conceded that state governments have the power to restrict illegal mining, however, but the central government views a refusal to issue mineral dispatch permits as unconstitutional. In recent weeks, Karnataka has stopped issuing mineral dispatch permits to transport iron ore not only to exporters but also to domestic steel mills. This has contributed to a relatively low volume of iron ore currently being exported from India (India is also at the tail end of monsoon season which has also led to a low volume of exports). The export ban has caused Chinese iron ore buyers (the vast majority of Indian iron ore exports are sent to China) to source a much larger amount of their imported iron ore from suppliers in Australia and Brazil. Indian steel mills have also had difficulty securing iron ore, with some mills expecting steel output to possibly be affected.
Late last week, however, the Karnataka government agree to issue dispatch permits to transport Karnataka-produced iron ore to domestic steel mills in Goa. The Karnataka government has been adamant that locally produced iron ore is not to be exported.
Going forward, “there are no immediate signs pointing to a swift repeal of the export ban. The central government in India, at times, is unable to quickly pass legislation and it seems likely that their “objections” to the export ban will remain as just that - objections - for at the very least the next week. In the short-term, the Karnataka iron ore export ban will continue to force Chinese iron ore buyers to import more of their ore from Brazil and Australia. This will lend support to capesize rates as most Brazilian and Australian ore shipments are carried on capesize vessels” Commodore concludes.
Source: Nikos Roussanoglou & Hellenic Shipping
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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
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