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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
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