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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Sinarmas Energy and Mining - Indonesia
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- Indonesian Coal Mining Association
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- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
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- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
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- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
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- Goldman Sachs - Singapore
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- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
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- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
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- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
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- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
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- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
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- Makarim & Taira - Indonesia
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- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
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- Billiton Holdings Pty Ltd - Australia
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- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Siam City Cement - Thailand
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
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- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
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- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
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- Oldendorff Carriers - Singapore
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- TNB Fuel Sdn Bhd - Malaysia
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