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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
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