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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, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- White Energy Company Limited
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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