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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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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
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