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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, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Economic Council, Georgia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
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