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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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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
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