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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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- PTC India Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
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