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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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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
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