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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Australian Coal Association
- PTC India Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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