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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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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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