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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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Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Ministry of Transport, Egypt
- The University of Queensland
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
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