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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, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
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