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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- The University of Queensland
- Marubeni Corporation - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
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