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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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- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Australian Coal Association
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
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