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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
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