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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Australian Coal Association
- The University of Queensland
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
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