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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Mercator Lines Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Australian Coal Association
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
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