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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
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