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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
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