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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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- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Latin American Coal - Colombia
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