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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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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
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