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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
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