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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- The University of Queensland
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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