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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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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
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- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
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