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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, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Deloitte Consulting - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
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