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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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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
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