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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, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
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- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
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