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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
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