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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- PTC India Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Economic Council, Georgia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
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