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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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Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- The Treasury - Australian Government
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
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