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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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Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Australian Coal Association
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- PTC India Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
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