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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, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- The University of Queensland
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Australian Coal Association
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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