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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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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
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