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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
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