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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- PTC India Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
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