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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
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