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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
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