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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
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