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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, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
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