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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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Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
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