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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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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
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