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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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
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