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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
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