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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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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
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