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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, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Australian Coal Association
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
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