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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Ministry of Mines - Canada
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
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