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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, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- The University of Queensland
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
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