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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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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- McConnell Dowell - Australia
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