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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
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