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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, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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