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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
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