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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, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- The University of Queensland
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
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