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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, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Planning Commission, India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
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