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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, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
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