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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
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