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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Australian Commodity Traders Exchange
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
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- Mercator Lines Limited - India
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- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
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- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
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- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
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- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
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- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
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