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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, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
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- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
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- Global Coal Blending Company Limited - Australia
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- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
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- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
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- Latin American Coal - Colombia
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- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
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- Grasim Industreis Ltd - India
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- Ministry of Mines - Canada
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- Electricity Generating Authority of Thailand
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- VISA Power Limited - India
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- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
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- Georgia Ports Authority, United States
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- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
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- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
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- GN Power Mariveles Coal Plant, Philippines
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- White Energy Company Limited
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- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
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- ASAPP Information Group - India
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- Sindya Power Generating Company Private Ltd
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- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Economic Council, Georgia
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