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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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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
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