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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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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- The University of Queensland
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
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