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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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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
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