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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, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
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