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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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Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
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- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- White Energy Company Limited
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- Wood Mackenzie - Singapore
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- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
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- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
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- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
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- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
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- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
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