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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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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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