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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, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
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