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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
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