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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
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