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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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Friday, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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