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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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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Planning Commission, India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- PTC India Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
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