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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
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