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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, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
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