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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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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- PTC India Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
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