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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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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- White Energy Company Limited
- ASAPP Information Group - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
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