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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, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Planning Commission, India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
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