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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
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