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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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Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
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- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
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