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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, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- PTC India Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Australian Coal Association
- VISA Power Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Economic Council, Georgia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
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