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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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Showing 5751 to 5755 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- MS Steel International - UAE
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
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