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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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Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
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- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Planning Commission, India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
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