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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, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
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