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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, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- VISA Power Limited - India
- Parliament of New Zealand
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- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
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