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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
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