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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
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