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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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Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- PTC India Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
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