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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
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