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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, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
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