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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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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
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