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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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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Aditya Birla Group - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Economic Council, Georgia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
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