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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- London Commodity Brokers - England
- The University of Queensland
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
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