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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
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