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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, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Economic Council, Georgia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
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