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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
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