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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
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