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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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Showing 5611 to 5615 news of total 6871 |
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- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
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