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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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Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
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- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Planning Commission, India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Minerals Council of Australia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Thiess Contractors Indonesia
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