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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
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