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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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Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
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