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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, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Australian Coal Association
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
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