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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, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- White Energy Company Limited
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Cement Manufacturers Association - India
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