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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
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- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
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