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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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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Planning Commission, India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
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