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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Minerals Council of Australia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
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