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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, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
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