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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, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
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