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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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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
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