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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- The University of Queensland
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
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