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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, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- The University of Queensland
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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