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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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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
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