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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Australian Coal Association
- Independent Power Producers Association of India
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