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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
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