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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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Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
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