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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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Showing 6041 to 6045 news of total 6871 |
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- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
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