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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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