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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, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Interocean Group of Companies - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Economic Council, Georgia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
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