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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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Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Aditya Birla Group - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
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