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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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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
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