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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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Showing 5611 to 5615 news of total 6871 |
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- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
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