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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, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
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