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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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
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