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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
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