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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
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