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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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Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
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