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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
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