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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, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Economic Council, Georgia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
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