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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, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
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