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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
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