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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, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
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