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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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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Parliament of New Zealand
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- PTC India Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Planning Commission, India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
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