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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
 The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous day. The capesize segment lost 62 points to reach 3,936, while the smaller panamax market gained 9 points to reach 3,900. Still, the irregularity observed during the previous weeks, when a panamax vessel could command higher fees than a comparative capesize has been eradicated after last week’s rally.
Still, in just one week the cape market has regained most of the ground lost since mid March, with the BCI closing on Friday at 3,936 points (+698 or +21.6% week on week) said Barry Rogliano Salles in a latest report. “This surge has been achieved on the back of short tonnage lists in the Atlantic and a rush for fixing before the Chinese/ Japanese holidays. However, the enthusiasm went a little down on Friday’s little downward correction. There was some increased period activity for one year duration, done in the mid 30s level, up from the low 30s of the previous weeks” said the report.
Summarizing the latest developments affecting the dry bulk market, BRS said that the project supported by the Australian Government to raise a so-called “resource rent tax” has come as a shock for the iron ore miners. Apart from the immediate reaction of the stock exchanges towards mining shares, the miners themselves have warned authorities that this tax (if implemented) could freeze a big share of their development projects.
“Analysts already predict that this tax could prevent some M&A initiatives to go further and decide some foreign investors to revise their plans. At the same time in China the CISA has called for a tax cut on domestic mining and a development of local supply. On the iron ore market, most players seem to be bearish about price evolution and wait-and-see attitude prevails for the moment. Lack of clear direction has also been the case for dry bulk shipping markets where despite a rate hike for Capes over the last 5 trading days, the week ended on a softer note.
Rumors have started circulating about a merger project by Glencore with Xstrata (of which they already won 34%) which could rocket the group to the top of the world commodity players’ ranking. No comments have so far been obtained from the two groups but according to analysts this project could be a key part of Glencore wider restructuring plan” said the shipbroker.
Still, in a recent report by N.Cotzias Shipping Group, we had noted that capes could very well be in for a run. “The fundamentals tell us that the Steel demand in China that leads the Iron]Ore Demand/Supply “tug of war” is there strong, and although China has reduced its iron ore imports from India due to an increase in excise duty and low grade imports into the country, overall trade has picked up, causing BDI to remain steadily in the range of 3k.
The past 2-3 weeks we have seen the Chinese Iron/Ore importers with the backing of the CISA, to be playing a nerve racking tactical cold war game with the giant Miners and Iron/Ore exporters. We strongly believe it is time that the flow returns to the normal levels and this "artificial" scarcity and shortage in the demand that was triggered partly as a boycott threat, cum pressure, will be resolved soon.
It is not a common secret after IMF released last week the latest word growth figures, that China's GDP growth estimate for 2010 is in double figures of 10%, and recent trade figures show that the improrts of Iron/Ore will exceed in volume those of 2009 by 7%” reaffirmed the report.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Planning Commission, India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- White Energy Company Limited
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
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