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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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Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
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