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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, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- The University of Queensland
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Planning Commission, India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
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