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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- PTC India Limited - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
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