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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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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
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