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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- PTC India Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
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