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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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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- White Energy Company Limited
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
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