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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, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Economic Council, Georgia
- London Commodity Brokers - England
- The University of Queensland
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
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