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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- VISA Power Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
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