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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- MS Steel International - UAE
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
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