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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
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