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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, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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