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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, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
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