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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- PTC India Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
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