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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- The University of Queensland
- Petron Corporation, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
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