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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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Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
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