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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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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Australian Coal Association
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
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