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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
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