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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
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