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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, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Planning Commission, India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
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