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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
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