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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Australian Coal Association
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