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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- The University of Queensland
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
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