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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, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
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