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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- London Commodity Brokers - England
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
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