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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, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- VISA Power Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
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