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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, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
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